Telkonet raises $3.5 million by sale of debentures T e l k o net I nc., t he pr ov ider o f energy m anage m ent sy s t e m s, has arr a n g ed t o s e l l $3 . 5 m i l l i o n of 1 3 % t h re e - y...

Telkonet


raises
$3.5
million
by
sale
of


debentures

T
elkonetI
nc.,
the provider
of energy

management
sys
t
e
ms,
has
arranged

to

s
e
ll
$3.5

m
i
l
lion
of
13%

t
hree-year

deben
tures.

The
company
plans

to
use

the
finance

to

cover

i
ts
working

capi
tal

needs
and

to
inve
st
in

expansion
of

i
ts
range

of
produc
ts.
The
announce
ment

was

made
as

wor
ld
share
prices recorded ano
ther
bad
day

with fur
ther
f
a
l
ls
in

most
of
the

major
indice
s

CuraGen


raises
$125
million
from
the
sale


of
convertible
debentures

T
he
drug
research

and
deve
lop
mentcompany
has
issued



$125
m
illion
of
conver
tible

deben
tures.
The

capi
t
al
raised

w
i
ll

be
used

to
finance
fur
ther

long
-
term
research


in
to
geno
mics-based
drugs

for

m
edical
purposes.

The
deben
tures

offer
a

fixed 6%


per

year
and
are
conver
tibl
einto

CuraGen’s
shares
in
seven

years’

time at
a
conversion price of

$127
per share

3.


Evaluate

t
he
s
tra
tegy of

both

c
o
mpanies in raising finance

through

the
sale of

deben
tures ra
ther

than
ei
ther
se
lling
shares or a

long-
term
bank

loan

with

variable
interes
t.